Revenue (excluding joint venture) in the fourth quarter alone amounted to €125.4 million compared to €103.2 million in 2021, an increase of 21.5%. All areas contributed to growth this quarter.
Over the year, sales (excluding joint ventures) amounted to €467.5 million, representing growth of 23.8% in real terms and 22.3% at constant exchange rates and scope.
The difference between real activity growth (25.6%) and at constant exchange rates and scope (23.3%) is mainly explained by the valuation of the Saudi Ryal (SAR), the Canadian Dollar (CAD) and the Guinean Franc (GNF) against the Euro.